PSA handled 65.4m TEUs of containers globally in 2014

PSA International (PSA) handled 65.44 million twenty-foot equivalent units (TEUs) of containers at its port projects around the world for the year ending Dec 31, 2014.

The group's volume increased by 5.8 per cent over 2013 with the Singapore terminals contributing 33.55 million TEUs, a year-on-year increase of 4.1 per cent, and the terminals outside Singapore handling 7.8 per cent more volume than last year at 31.89 million TEUs.

"Last year was challenging for the shipping and port industry. Global trade growth was modest and that, coupled with the introduction of many mega vessels, resulted in overcapacity and low freight rates for liner carriers," explained Tan Chong Meng, group CEO of PSA.